| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 79 | 16.6x | 17.8x | Top tier | |
Growth | 85 | 11.2% | 7.1% | Top tier | |
Quality | 86 | 10.4% | 4.5% | Top tier | |
Safety | 77 | 1.4x | 2.6x | Top tier | |
Capital Return | 75 | — | 2.12% | Top tier | |
Momentum | 70 | 23.1% | 2.9% | Top tier | |
Sentiment | 45 | 8 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Jones Lang LaSalle Incorporated provides global commercial real estate services, including workplace, project, and property management, leasing advisory, capital markets services, investment management, and technology solutions. The company relies on a mix in which resilient business lines represent approximately 80% of revenue, supported by multi-year relationships and recurring revenue, while leasing, sales, and advisory activities generate transaction-volume-related revenue. The Accelerate 2030 strategy is based on integrating services through the One JLL approach and increasing platform productivity through data, artificial intelligence, and automation.
In Q2 FY2026, revenue reached $6.9 billion, compared with $6.4 billion in Q1 FY2026, while net income was $214.3 million and GAAP earnings per share were $4.59. Revenue grew 11% in dollars and 10% in local currencies, while adjusted EBITDA increased 33% and adjusted earnings per share rose 61%; adjusted earnings per share also reached $5.26 versus expectations of $4.52. Net income was equivalent to approximately 3.1% of revenue, while free cash flow increased 52% to $438 million.
Advisory activity drove mix expansion in Q2 FY2026; combined advisory business revenue growth accelerated to 21%, leasing advisory grew 24%, while Real Estate Management Services recorded growth of 8%. In Capital Markets Services, debt advisory revenue increased 44%, investment sales 20%, and equity advisory 53%, with U.S. investment sales growing 53%. On a trailing 12-month basis in 2026, revenue reached $27.4 billion and net income was $997.8 million, compared with revenue of $26.1 billion and net income of $792.1 million in FY2025.
The analyst consensus is “Buy,” with an average target of $450.50 and a range between $401 and $500; the average is above the 52-week range high of $393.84, while the lowest target is slightly above that high. This range reflects strong expectations following the increase in the FY2026 adjusted earnings per share target to $24.60–$25.90, but it leaves clear execution risk if transactions slow or pressures in commissions and Investment Management persist.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
JLL's revenue reached approximately $6.9 billion and net income was $214.3 million in Q2 FY2026, with GAAP earnings per share of $4.59. Revenue grew 11% in dollars, while adjusted EBITDA increased 33% and adjusted earnings per share rose 61%. The primary drivers were leasing advisory and Capital Markets Services, with combined advisory business revenue growing 21%. Adjusted earnings per share also reached $5.26 versus expectations of $4.52.
On July 30, 2026, the company raised its target adjusted earnings per share range for FY2026 to $24.60–$25.90, representing growth of 34% at the midpoint. The decision was based on strong first-half performance, continued advisory opportunity pipelines, improving business confidence, and operating leverage resulting from platform investments. JLL is targeting mid-to-high teens growth in leasing advisory and mid-teens growth in Capital Markets Services. Free cash flow in Q2 FY2026 reached approximately $438 million, an increase of 52%.
JLL was managing facilities for 340 data centers at the end of Q2 FY2026. Management said on the July 30, 2026 call that contracted gigawatt capacity was expected to increase by approximately one-third during the two quarters following the call, based on signed contracts for large centers. Managing these facilities generates recurring revenue, while data center transactions add higher-margin revenue that is nonrecurring after a transaction is completed. Momentum was also evident in project management, where the Americas led double-digit growth in management fees, supported by data centers.
Automated analysis for informational purposes only — not investment advice.
In Q2 FY2026, JLL's global office leasing revenue grew 20% versus a 2% increase in market volume. Total leasing advisory revenue increased 24%, with demand from offices, the industrial sector, data centers, and technology companies, including artificial intelligence companies. In Capital Markets, U.S. investment sales grew 53%, a rate nearly twice the broader market's growth according to management. Debt advisory also increased 44% and equity advisory 53%.
Geopolitical concerns lengthened the closing timelines for some Capital Markets transactions in Europe during Q2 FY2026, with caution in parts of Asia. Investment Management is also targeting low-single-digit growth in advisory fees due to the impact of realizations in Asia Pacific. Large transactions and U.S. growth moved producers into higher commission tiers early, creating margin pressure during the first half of FY2026. In addition, the company will face stronger growth comparisons during the second half of FY2026, particularly in Q4.
Corporate liquidity reached $3.4 billion at the end of Q2 FY2026, and net leverage improved to 0.7 times. JLL repurchased $110 million of shares during the quarter and $410 million during the first half of FY2026, reducing the share count by approximately 3% year over year. $2.6 billion remained under the repurchase authorization, with the pace of execution linked to the operating environment, leverage, valuation, and the relative return of other opportunities. Free cash flow reached $438 million in the quarter, providing the company with flexibility to invest and return capital.
